Fewer vehicles registered in Nov
MUMBAI: The Centre’s move to scrap old notes of Rs500 and Rs1,000 and the cash crunch that followed has in one month achieved what the state has been trying to for years — bring down sales of cars and two-wheelers and reduce congestion and pollution in the long-run.
The shock announcement triggered frenzy among Indians as the high-value banknotes that were discontinued made up 86% of the currency in circulation.
T he pa nic was eviden t in, among other things, the number of Mumbaiites who bought and registered vehicles in the month that fol- lowed. Data for November from Mumbai’s four Regional Transport Offices (RTOs) show 1,902 fewer cars and bikes were registered compared to the same month in 2015.
In November 2016, Mumbai’s RTOs registered 17,724 vehicles —4,334 four-wheeler (cars, jeeps and SUVs) and 13,390 twowheelers (motor cycles, mopeds and scooters). RTO sources said a few days after the announcement, vehicle registration started declining.